Bounce Brand: The team did not participate in any AUCTION token price manipulation

Odaily News Bounce Brand posted on the X platform that it hopes to explain the recent community concerns about AUCTION price fluctuations. It should be made clear that the team has not participated in any AUCTION token price manipulation. In the past few weeks, some unknown parties have accumulated more than 20% of the total supply of AUCTION. Its on-chain transfer activities and their impact on the price of AUCTON have attracted widespread attention, causing AUCTION trading volume to soar on major exchanges. Binance, as a major price discovery market, has seen its hot wallet holdings fall below 10% of the total supply. The borrowing rate has exceeded 80% for many years, and the financing rate has been maintained at -2% for many periods. Major exchanges have adjusted the position limits and risk control measures for perpetual contracts.
In order to help stabilize market liquidity, we have been actively providing liquidity support to multiple exchanges. In addition, the team has voluntarily locked approximately 1.5 million AUCTION from funds and team allocations.